CBOT Trends-Wheat down 4-6 cents, corn down 1-3 cents, soy steady-mixed

- The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday.

WHEAT - Down 4 to 6 cents per bushel

  • Falling oil prices and a strong dollar weighed on grain markets that also recently came under pressure from liquidation by funds.

  • The International Grains Council raised its forecasts for 2026/27 global wheat and corn production.

  • U.S. wheat export sales for 2026/27 were 504,500 metric tons in the week that ended on June 18, the U.S. Department of Agriculture said. Analysts expected 250,000 to 600,000 tons.

  • Western Europe remained in the grip of a deadly heatwave that has threatened crops.

  • CBOT July soft red winter wheat WN26 was last down 4-1/4 cents at $5.81-1/2 per bushel. K.C. July hard red winter wheat KWN26 was last down 4-1/2 cents at $6.12-3/4 per bushel and Minneapolis July spring wheat MWEN26 was up 1/4 cent at $5.84-1/2 per bushel.

CORN - Down 1 to 3 cents per bushel

  • Corn futures set contract lows overnight.

  • Weaker oil prices can weigh on corn and soy markets because the crops are used to manufacture biofuels.

  • Traders monitored forecasts for hot U.S. weather and rain in early July, the critical month for development of the corn crop.

  • Weekly U.S. corn export sales were 743,100 metric tons for 2025/26, USDA said. Analysts expected 600,000 to 1.3 million tons.

  • CBOT July corn CN26 was last down 2-1/2 cents at $4.04-1/2 per bushel.

SOYBEANS - Steady-mixed

  • CBOT July soybeans SN26 neared a February low set last week. The contract was last unchanged at $11.08-3/4 per bushel.

  • USDA on June 30 is slated to release highly anticipated U.S. acreage estimates and quarterly data on grain stocks.

  • Weekly U.S. soybean export sales were 455,400 metric tons for 2025/26, USDA said. Analysts expected 100,000 to 500,000 tons.

  • U.S. President Donald Trump on Wednesday asked Congress to approve more than $11 billion in additional aid for farmers facing high fuel and fertilizer costs since the Iran war.